Key stakeholders will be meeting at a workshop on Thursday 20th October to initiate the process of developing a national-level Protected Area (PA) Financial Plan. Formulation of the plan is being undertaken through the GOS-UNDP-GEF Protected Areas Finance Project.

A five-year project with a total budget US$ 2.776 million, the GOS-UNDP-GEF Protected Areas Finance Poject aims to explore means to achieve sustainable financing for Seychelles' Protected Areas' system. This first workshop will:

1) Introduce the process of developing a PA Financial Plan,

2) Present the background analysis that frames the development of the plan, and

3) Discuss and agree a vision for the plan.

The workshop will be attended by various stakeholders, including representatives from the Ministry of Environment, Energy and Climate Change, the Ministry of Finance, Trade and the Blue Economy the Seychelles Fishing Authority, the Seychelles Tourism Board, the Seychelles National Parks Authority, Seychelles Islands Foundation, participating NGOs and other environmental non-profit organizations.

The workshop will be facilated by the GOS-UNDP-GEF PA Finance Project Manager, Mr Daig Romain, and the Project Finance and Economics Advisor, Mr Andy Rylance.

The workshop will be held at the STC Conference Room on Thursday 20th October, 2016 from 8.30 am to 3.30 pm.

######

About the GOS-UNDP-GEF Protected Areas Finance Project

Background

This new project has been developed to strengthen the Seychelles Protected Area (PA) system, especially as the country is in the process of exploring the potential for expansion of the protected areas system through the Marine Spatial Planning exercise, in line with the 2013 PA Policy. The project intends to develop the first whole system and financial/investment plans for Seychelles' protected areas, treating the system holistically, and bringing together the various Government agencies and NGOs currently involved in managing separate areas. It looks in particular at the costs of managing the system, much of which is under-performing in terms of capturing revenue, and addressing financing gaps through development of new and innovative financing mechanisms

Project Outcomes:

The project aims to develop a framework whereby the PA system can be sustainably financed. The project has two main components:

1) Enabling planning and legal framework for an improved use of existing and new PA finance - It will support the Government, Seychelles National Parks Authority and other entities managing PAs in evaluating the financial performance of the PAs, determining financial gaps and identifying opportunities for improving overall functionality of both the current and the proposed expanded PA estate. It will also develop a national PAs investment Plan and site-level PA Financing Plans where needed. Additionally, it will strengthen the financial management capacities of the national PA managing entities in order to reduce cost-inefficiencies, improve revenues and develop mechanisms for revenue sharing.

2) Increasing and securing revenue generation for PA management – It will improve the financial sustainability of the PA system and selected individual PAs to ensure that they have adequate financial resources to cover the full costs of their management at optimal level. To achieve this, it will support the building and renovating of small infrastructures, and introduce new cost-effective practices, systems and schemes, all aimed at making sites more attractive to visitors and increasing the revenue generation capacity of the individual sites.